UAE corporate tax_free zones

Corporate tax: UAE exempts free zones from business tax

The government said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate

EDB finance deals

Make it in the Emirates Forum: EDB unveils Dhs424m in financing deals

The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors

CBUAE, HKMA partnership

CBUAE issues new AML guidance for financial institutions

The central bank’s guidance highlights the risks of dealing with virtual assets and virtual asset service providers and their business models

Olam Group postpones IPO of Olam Agri

Olam Group delays listing agri unit on Saudi Exchange

The company will continue to pursue the IPO of Olam Agri at the next practical window without providing any approximate time frame

First Mills IPO on Saudi Exchange

Saudi First Mills’ $266.4m IPO attracts bids worth $18bn

The milling company said big investors placed orders worth SAR68.8bn, almost 69 times more than was available to them

Turkish lira

Turkish lira falls to record low against US greenback

Wall Street sees more weakness ahead for the lira, with Morgan Stanley warning that it may reach 26 per dollar sooner than earlier expected and slide toward to 28 by the end of the year

Dubai exchange launches futures contracts

Dubai bourse launches futures contracts on general index

The futures contracts will help investors effectively hedge against market volatility and make profitable trades

UAE and Poland seeks to bolster ties

UAE, Poland seek to strengthen financial and economic ties

The two countries agreed to strengthen their cooperation and exchange knowledge, experiences and best practices in the field of tax policy

Corporate tax transitional rules-Photo-courtesy-WAM

UAE corporate tax: MoF issues transitional rules for businesses

The decision applies to immovable property, intangible assets, financial assets and financial liabilities held by businesses before the corporate tax law comes into effect on June 1

Majid Al Futtaim issues sukuk

UAE’s Majid Al Futtaim issues $500m green sukuk

The conglomerate will use the proceeds from its fourth green sukuk issuance to refinance an older $800m bond commitment due in May 2024

Mansoor Ebrahim Al-Mahmoud, QIA CEO on sovereign wealth funds in private credit. Image credit: QIA

Sovereign wealth fund QIA joins SoftBank, BlackRock in private credit push

Sovereign wealth funds like the QIA have been increasingly looking at private credit, providing evidence of the market’s rapid growth

Adnoc L&S IPO is oversubscribed. Image credit: WAM

ADNOC Logistics gets $125bn in orders for $769m IPO

ADNOC sold 1.41 billion shares in its maritime logistics unit at Dhs2.01 a share, valuing the company at $4.05bn

Karim Awad Group CEO EFG Holding

EFG Hermes Holding rebrands as EFG Holding

The change in the brand name will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals

TaxGPT Worlds-First-AI-Powered-Corporate-Tax-Assistant image: Virtuzone

Introducing TaxGPT, the AI-powered UAE corporate tax assistant

Virtuzone has launched TaxGPT to help UAE-based businesses get answers related to the upcoming corporate tax regime based on information from the UAE’s MOF and FTA

FAB supply chain finance in KSA

UAE’s FAB launches supply chain finance in Saudi Arabia

The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds

EFG Hermes group CEO Karim Awad Image courtesy EFG Hermes Holding

EFG Hermes reports 157% rise in net profit to EGP885m in Q1 2023

The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023

ADFD investments in 2022 Photo GettyImages-1430804172

Abu Dhabi development fund sees financing, investments cross Dhs189.7bn in 2022

According to its annual report, Abu Dhabi Fund for Development’s investments benefitted 104 nations last year

insurance company

CBUAE removes board of directors of insurance company

It is replaced it with a temporary committee of experts for six months

MoF issues Ministerial decisions related to corporate tax Photo WAM

UAE corporate tax: MoF issues 3 new ministerial decisions

According to the ministry, the three new decisions aim to enhance the flexibility of UAE’s corporate tax regime and ensure a supportive business environment for all sectors


ADNOC raises size of its logistics unit IPO on heavy demand

The maritime logistics firm expects the final offer price to be announced on May 26, after the book-building process

Mubadala-fortress acquire FOrtess Investment Group.-Image-courtesy-WAM-e1683045715405

Fortress Management, Mubadala to acquire Fortress Investment Group

The transaction is expected to close in the first quarter of 2024, subject to regulatory approvals

INR2000 denomination currency withdrawn by India's central bank - the RBI. Image Credit: Getty Images

What does India’s decision to withdraw INR2000 currency note mean?

The 2000-rupee note will remain legal tender, but citizens have been notified to deposit or exchange these notes

M&A and Corporate Tax insights

Navigating M&A transactions, restructurings in the face of UAE’s corporate tax 

Buyers will need to evaluate the tax status of the target company or target assets and consider whether any restructuring is required to optimise tax efficiency


UAE Banks Federation confirms 100% spike in use of digital banking channels

According to a survey conducted by UAE Banks Federation, the county ranked second globally in terms of customer confidence in banks at 84 per cent in 2022

Corporate tax prep for SMEs Lorenzo Jooris Image credit Creative Zone

Is your SME ready for the corporate tax regime?

Here’s how to ensure your SME is set to deal with the advent of UAE’s corporate tax from June

Mubadala has invested in clean energy FY 2022 financial highlights

Abu Dhabi’s Mubadala outperforms global benchmarks in 2022

The company deployed Dhs107bn in industries such as life sciences, renewable energy and digital infrastructure

CBUAE banks' investments update feb 2023

UAE bank investments hit record high of Dhs541bn in February

The CBUAE update showed a year-on-year growth of 15.2 per cent over the same period last year

Oman's Ahli Bank receives bids from Omnivest, Bank Dhofar

Oman’s Bank Dhofar, Omnivest submit competing bids for Ahli Bank

The revised bid from Oman’s Bank Dhofar comes a day after Omnivest said it would lead a consortium that will make an offer for Ahli Bank

FTA unveils tax agents classification initiative Photo Getty Images

The UAE’s FTA unveils initiative to simplify tax compliance, enhance customer satisfaction

The initiative is designed based on the results of an opinion poll and proposals fielded by the authority through its direct communication with customers

Aldar Square photo Aldar Properties PR

Aldar Investment Properties raises $500m from inaugural green sukuk

Proceeds of the sukuk will be used in accordance with Aldar’s Green Finance Framework to finance green initiatives and acquisitions